Market Update Report 1/24/2017

The KUIK Market Update for Tuesday, January 24:
 
Markets are up.
 
Index Direction Change Units   Time    
Dow Up                     30  points            19,829 7:52 AM    
S&P500 Up 0.2% percent             2,269      
Nasdaq Composite Up 0.2% percent             5,565      
30 Year Treasury Up                       3 Basis Points               3.02 Annual Yield    
 
Japanese Prime Minister Shinzo Abe said to he would continue to advocate for free trade, and officials said they hadn’t given up on the Trans-Pacific Partnership despite President Trump’s decision to withdraw from the deal. A government spokesman said it was “meaningless” to have the TPP without the U.S., and Tokyo wasn’t considering revising it while excluding Washington.
 
Apple was hit by a wave of bearish analyst notes this week ahead of its quarterly earnings, as analysts warned investors that iPhone sales will be lackluster through this calendar year. The stock was downgraded to equal weight from overweight at Barclaysand its 12-month price target was reduced to $117 from $119. Analyst Mark Moskowitz said he doesn’t see any major drivers over the next 12 months.
 
The Congressional Budget Office estimates that the federal government would run a budget deficit of $559 billion in fiscal 2017, 35 billion less than earlier projected. In its latest budget and economic outlook, the CBO said the new estimate was due to its expectation that mandatory spending would be lower than anticipated.
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/japan-says-tpp-meaningless-without-us-but-still-hopes-to-save-pact-2017-01-23
http://www.marketwatch.com/story/apple-shares-and-sales-wont-meaningfully-improve-until-2018-2017-01-24
http://www.marketwatch.com/story/cbo-cuts-2017-budget-deficit-estimate-by-35-billion-2017-01-24-1010323
 
 
For today’s Market Update Report click to listen->